Krugman recently wrote about this and argued this perception is heavily biased by poor comparative measurements: https://paulkrugman.substack.com/p/europe-v-america-whos-rea...
Or rather, you shouldn't appeal to authority.
The discussion here is a mess. This specific article about ASML is more about outlook, than Krugman's, which is about the current state. This will be a problem in the future. Currently, Europe's quality of life is at least on par, or probably even better in some parts of Europe, but these are signs that this won't last.
If the current positive sum game is eroding more, then there are two options. Embracing the feudal times as in America, or keep pretending. In the short and mid term, the former is better. However, in the long term, if you pretend for the following decades, then you will win. Unfortunately, there is only a slim chance that you will be able to, but all of those countries will win in the end.
For not the 1%, feudal logic is obviously not good at all, but they are still voting for them. Even in Europe. Those European countries which stay democracies will win.